Bell Media Revenue Falls While Parent BCE Inc. Sees Revenues Rise For Second Quarter 2023

Q2 Numbers

Despite a 1.9% decline in its BELL MEDIA division revenues to C$805 million, BCE INC. second quarter 2023 revenue grew 3.5% to C$6.1 billion, but net earnings dropped 39.3% to C$397 million (37 cents/share). Advertising revenue dipped 9% but subscriber revenue, driven by the CRAVE streaming video service, rose 3.9% and digital revenue jumped 20%. The company does not break out its radio revenues in its earnings releases.

"BELL's Q2 results demonstrate that our consistent strong execution and delivering the compelling services that our customers want and value is a winning approach," said Pres./CEO MIRKO BIBIC, touting the company's performance in mobile and internet services and adding, "Despite the continuing advertising recession across NORTH AMERICA, our leading content and digital-first media strategy continues to pay off with BELL MEDIA digital revenue up 20% over last year, and now comprising 33% of total BELL MEDIA revenue."

The BCE Board of Directors has also declared a quarterly dividend of 96.75 cents/share, payable OCTOBER 16th to shareholders of record as of SEPTEMBER 15th.

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